1. Which data tell you how much the price of goods inflates over a period of time?
A. consumer price index
B. gross domestic product
C. unemployment rate
D. economic indicator
2. what does the gross domestic product measure?
A. the value of the U.S. and foreign goods during a certain time period
B. the average price of a basket of U.S. goods
C. the total market value of goods produced in the U.S. during a certain time period
D. the total market value of goods brought by the average individual during a certain time period
3. When the unemployment rates rise,
A. jobs are harder to find
B. pay is generally lower
C. more people are out of work***
D. all of the above
5. People needing and wanting more than the resources available can result in
A. numerous choices
B. prosperity
C. scarcity
D. a surplus
6. Which is more likely to happen in an inflated economy?
A. supplies of goods decrease
B. their is high unemployment
C. more goods will be produced
D. people have less money to spend
7. What is a mineral resource found in Louisiana?
A. salt
B. sulfur
C. lignite
D. All of the above
8. What is an example of a private service?
A. using the highway to get somewhere faster
B. getting your school supplies at a local store
C. books that you can check out in the local library
D. filing a police report after being a victim to a crime***
9. which of the following factors contributed to mercantilism failing in Louisiana?
A. lack of minerals such as gold and silver
B. more people than available land to buy
C. regulations that prevented smuggling
D. an increase in trade within the colonies
What are your answers? We'll be glad to check them for you. If all these questions have you stumped, I'd suggest you read your text materials to find the answers.
I've read all the material over nod over again and I still can't figure it out @reed
Both of your answers are wrong. And since you've read the material over and over, this class must be too hard for you. Drop it and take an easier class.
I don't need to drop this class I have good grades in this class it's just this one lesson that I have a problem with so don't tell me that I need to drop this class when I don't all I need is help @Ms.Sue
If you do not know what the consumer price index is, and it is not defined in your text materials, Google it. We can provide you with links for each of these questions, but you can do it for yourself. In question 8, where your answer is wrong, what is a PRIVATE service compared to a PUBLIC service. How is a PUBLIC service defined? One operated by a private business or one funded by the public through taxes? Sometimes you have to THINK, too. Are the police, libraries, and highways privately owned or supported by the public and owned by the public? THINK.
1. The data that tells you how much the price of goods inflates over a period of time is known as the consumer price index (CPI). To find the CPI, you can refer to official government websites, such as the U.S. Bureau of Labor Statistics (BLS), which regularly publishes CPI data. You can also find CPI information in economic reports and news articles.
2. The gross domestic product (GDP) measures the total market value of goods produced in a country during a specific time period. To find the GDP, you can refer to government sources, such as the U.S. Bureau of Economic Analysis (BEA), which provides regular updates on GDP data. National statistical agencies and international organizations like the International Monetary Fund (IMF) also publish GDP data for various countries.
3. When the unemployment rates rise, it means that more people are out of work. This information can be obtained from government sources, such as the U.S. Bureau of Labor Statistics (BLS), which releases monthly reports on employment and unemployment data. These reports can be found on the BLS website or in news articles reporting on economic indicators.
5. When people need and want more than the resources available, it results in scarcity. This concept can be found in economics textbooks or online resources that discuss basic economic principles. Scarcity is a fundamental concept in economics and is widely discussed in various sources related to the subject.
6. In an inflated economy, it is more likely that supplies of goods decrease. This is because inflation generally leads to higher prices, which can reduce the purchasing power of consumers and limit demand for goods. To understand the impact of inflation on the economy, you can refer to economic reports, news articles, and academic sources that cover topics related to inflation and its effects.
7. A mineral resource found in Louisiana is sulfur. This information can be obtained from various sources such as geological surveys, mining reports, and government publications. Specific information about the mineral resources of Louisiana may be available from the Louisiana Geological Survey and the U.S. Geological Survey.
8. An example of a private service is filing a police report after being a victim of a crime. Private services are typically provided by individuals or businesses for a fee and are not directly funded or managed by the government. Other examples of private services may include hiring a personal fitness trainer, getting legal advice from a private attorney, or ordering food from a restaurant.
9. The factor that contributed to mercantilism failing in Louisiana was an increase in trade within the colonies. Mercantilism was an economic system during the colonial era that aimed to maximize the wealth and power of a nation through strict regulation of trade and accumulation of precious metals. However, an increase in trade within the colonies undermined the mercantilist system by promoting more direct trade between colonies and bypassing the restrictions imposed by European powers. This information can be found in historical textbooks, academic articles, and other reliable sources that cover the history of mercantilism and trade during the colonial era.